3 mins
TOP ACCESS EQUIPMENT MANUFACTURERS
The latest listing highlights a diverging marketplace for the access industry’s biggest manufacturers
There is one new entry to the top ten listing of the biggest access players
IMAGE: ADOBE STOCK
The top ten of the accessM20 – a listing of the world’s largest access equipment manufacturers, ranked by their revenue in 2023 – have remained in the same position compared to last year, with just one exception, that being Sinoboom, which has snuck in at number ten this year for the first time.
The full listing, which was published in the May-June issue of Access International, contained 40 companies – this edited version focuses on the top 20.
The mainstream access manufacturers of scissors and boom lifts had a successful 2023 in the main, coming off the back of the Covid pandemic as supply chains began to ease and rental companies returned to more normal buying cycles.
In China, on the other hand, where economic downturn and decline in construction was notable, the manufacturers based there have seen fewer substantial increases in revenues than we have seen in the past, with one or two exceptions.
ABOUT THE accessM20
All non-US$ revenue figures have been converted to a common currency rate based on the value of the US$ on 6 June 2014. Detailed guidance was provided to manufacturers about what to include in their figures, as follows:
REVENUES TO INCLUDE:
＞Revenues for the calendar year 2023;
＞ Sales of new aerial platforms (self propelled booms and scissors, push around and low level access, trailer mounted platforms, truck mounted platforms, utility platforms such as insulated units, mast climbing work platforms, construction hoists and transport platforms);
＞ Sales of used aerial platforms;
＞ Revenues from after sales service and parts, relating to aerial platform products;
＞ Other aerial platform related revenues, such as rental or re-rental activities.
REVENUES TO EXCLUDE:
＞ Sales of non-aerial work platform products, such as telehandlers, cranes, utility sector digger derricks, transport trailers;
＞ Revenues for service and parts relating to non-aerial products, (such as telehandlers, cranes, digger derricks, etc.).
Acquisitions aplenty
Among the other manufacturers there have been some important developments. Spider lift specialist Hinowa was sold to JLG last year, which helped bump up the US-based OEM’s revenue.
As was the case for fellow Italian-based spider lift manufacturer CMC with the acquisition of its US distributor. All Access Equipment (AAE), which increased its revenue figure by more than 46%. Headquartered in Boston, Massachusetts, US, the company is a leading provider of sales, distribution, and services throughout North America.
Another spider lift manufacturer has been the subject of a buyout in recent times, with Teupen bought out by US-based Utility equipment provider Altec earlier this year. All this activity by spider lift producers may indicate that this product type is becoming more mainstream and rental orientated. It may also reflect the desire by larger manufacturers to broaden their horizons outside of the traditional construction-related products.
Elsewhere in the list, mast climber producer Scanclimber’s sale to Alimak from previous owner Tractel also shows in its figures.
Another manufacturer to no longer appear in the list is Holland Lift. Following its liquidation in August last year, it has ceased all its activities.
The company said at the time that it had faced several challenges in recent years, among those being the substantial increase of steel prices, increasing overall running costs and severe supply chain issues following the Covid pandemic, along with the war in Ukraine. In addition, Holland Lift noted fierce competition from “low price newcomers.”
Overall, the listing is looking healthy, despite economic difficulties seen in Europe and China last year that are set to continue.
As always, the access sector continues to adapt and change, particularly, it could be argued, over the last 18 months or so. It will be interesting to see where the future takes us.